Correlation Between KSM Mutual and United Parcel
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By analyzing existing cross correlation between KSM Mutual Funds and United Parcel Service, you can compare the effects of market volatilities on KSM Mutual and United Parcel and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in KSM Mutual with a short position of United Parcel. Check out your portfolio center. Please also check ongoing floating volatility patterns of KSM Mutual and United Parcel.
Diversification Opportunities for KSM Mutual and United Parcel
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between KSM and United is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding KSM Mutual Funds and United Parcel Service in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on United Parcel Service and KSM Mutual is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on KSM Mutual Funds are associated (or correlated) with United Parcel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United Parcel Service has no effect on the direction of KSM Mutual i.e., KSM Mutual and United Parcel go up and down completely randomly.
Pair Corralation between KSM Mutual and United Parcel
Assuming the 90 days trading horizon KSM Mutual Funds is expected to under-perform the United Parcel. But the etf apears to be less risky and, when comparing its historical volatility, KSM Mutual Funds is 1.9 times less risky than United Parcel. The etf trades about -0.23 of its potential returns per unit of risk. The United Parcel Service is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 14,379 in United Parcel Service on January 26, 2024 and sell it today you would earn a total of 283.00 from holding United Parcel Service or generate 1.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 76.19% |
| Values | Daily Returns |
KSM Mutual Funds vs. United Parcel Service
Performance |
| Timeline |
| KSM Mutual Funds |
| United Parcel Service |
KSM Mutual and United Parcel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KSM Mutual and United Parcel
The main advantage of trading using opposite KSM Mutual and United Parcel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KSM Mutual position performs unexpectedly, United Parcel can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in United Parcel will offset losses from the drop in United Parcel's long position.| KSM Mutual vs. Harel Index Funds | KSM Mutual vs. Harel Index Funds | KSM Mutual vs. Harel Index Funds | KSM Mutual vs. KSM Mutual Funds |
| United Parcel vs. GXO Logistics | United Parcel vs. JB Hunt Transport | United Parcel vs. Expeditors International of | United Parcel vs. CH Robinson Worldwide |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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